Rent vs. Buy: Why Context Matters

In today’s ever-changing real estate market, the debate about the benefits of renting vs buying a home continues. Which option is better? As with most things, the answer is that it depends on your situation. We’re reviewing the benefits and costs of renting vs buying to help you make an informed decision for your future.

Pros and Cons of Buying vs. Renting

You may have heard that renting is “throwing away money” because you aren’t building equity. On the other hand, you also aren’t incurring the many expenses associated with homeownership. The truth is that both options have pros and cons, and ultimately, it’s up to you to decide what best fits your lifestyle and your financial reality.

Pros of renting:

  • Your landlord covers the cost of maintaining and repairing your unit, as well as property taxes and insurance.
  • Utilities may be included in your rent.
  • No long-term commitment.

Cons of renting:

  • You can’t build equity.
  • Monthly rent may be higher than a monthly mortgage payment.
  • You’re limited in changes you can make to your unit, and any improvements ultimately benefit your landlord.
  • Risk of moving

Pros of buying:

  • Gaining equity can help you build wealth in the long-term.
  • You can remodel and update your home as you see fit.
  • A monthly mortgage payment may be less than a monthly rental payment (but don’t forget the other costs associated with homeownership).

Cons of buying:

  • You are responsible for all costs, including property taxes, insurance, maintenance, and more.
  • Purchasing a home is a large upfront cost that far outweighs the upfront cost of renting.
  • Ownership is a major commitment in terms of time, money, and labour.

Key Differences Between Buying and Renting

Rent vs Mortgage

Rent is a payment to the landlord for use of their property and can change periodically. In contrast, a mortgage payment is a combination of interest and principal on your loan and is typically stable over the mortgage term. Unlike renters, homeowners build equity as they pay down their mortgages.

Property Taxes

Homeowners pay property taxes and can deduct this from their income tax return. Renters don’t typically pay property taxes.


As a homeowner, you’re responsible for maintenance and repairs. Renters aren’t responsible for these costs; the landlord is legally required to maintain their units.


Renting requires significantly less commitment than buying. If you like where you live, have a stable job, and plan to live there for at least 3-5 years, buying may be the right option for you. However, if you plan to move within the next 3 years or lack job security, renting may make more sense for you.

Achieve Your Dream of Homeownership with JAAG Properties

In the end, there are benefits to both renting and owning. Thankfully, our Rent to Home Solution offers you the best of both worlds, allowing you to rent your home from us while you save money to become a homeowner. Contact us today to learn more about how you can rent to own your home!

When Is a Good Time to Buy a Home?

Choosing the ideal time to buy a house is not just a matter of preference, as it might have an impact on your whole home-buying experience. The optimal time to make this major investment depends on pricing, industry, competition, and seasonal swings. While the quieter autumn and winter months might offer fewer competitors and potentially better deals, the vibrant spring and summer seasons often present a wider array of options. Beyond market conditions, your financial readiness plays a key role. Understanding market cycles, interest rate trends, and your financial standing can guide you toward making a well-informed decision.

Choosing the Right Time of Year

When starting the homebuying process, people often ask, “When is a good time to buy a home?”. Knowing the answer can have a big influence on your house-buying process, as several key factors play a role. Spring and summer offer an appealing backdrop for home shopping, showcasing properties in their best light, but this can also lead to higher demand, increased prices, and more competition. On the flip side, sellers often become more eager to close deals during the autumn and winter months. This can result in fewer buyers competing and possibly more attractive prices.

For those struggling to save for a down payment or get a high enough credit score, other methods to homebuying can be considered, like JAAG’s Rent to Home Solution. Our program is designed to make buying a home more attainable, making any time a good time to buy a home.

Choosing When it Is Right for You

When contemplating the ideal time to purchase a home, it’s crucial to evaluate how prepared you are to buy a home. Start by evaluating your creditworthiness. Lenders rely on credit scores to establish interest rates and loan terms, significantly impacting your mortgage options. Additionally, saving for a down payment is essential. Choosing a larger initial payment not only results in lower monthly mortgage installments but also unlocks potential long-term financial benefits.

Tips When Deciding When to Buy a Home

Embarking on the path to homeownership with a focus on cost savings involves careful consideration of various factors. As a leading rent-to-own company, we’re here to guide you through the process. Here’s a concise guide to help you make informed decisions:

Interest Rates and Affordability

Lower interest rates can lead to decreased mortgage payments, enhancing affordability for those exploring rent-to-own programs.

Housing Market Trends

When looking for a home, work with a realtor who can analyze market trends to discern whether it’s a buyer’s or seller’s market, influencing the viability of rent-to-own options.

Exploring Rent-to-Own Programs

Consider the advantages of rent-to-own programs as a flexible pathway to homeownership, allowing you to transition seamlessly.

Your Journey to Homeownership Starts with JAAG Properties

Determining when it is the right time to buy a house is key to making a wise investment. Spring and summer showcase properties in their prime, while fall and winter offer less competition and more attractive prices. Considering your creditworthiness and financial resources, it’s important to align this decision with your situation and goals. Factors like interest rates, market trends, and future plans should also be part of your considerations. When you decide it’s the right time, JAAG Properties stands ready to be your partner in finding the perfect home.

Can Newcomers To Canada Get A Mortgage?

Newcomers to Canada can face many challenges while trying to establish their new lives in an unfamiliar environment. Language barriers, cultural differences, and social norms can make it difficult to accomplish even the simplest of tasks. Of course, one of the biggest concerns for new arrivals can be finding secure housing, a place to live and call their own.

Acquiring the necessary financing to purchase a home in Canada can sometimes be a struggle for newcomers. They may have difficulties meeting the requirements of traditional lenders under typical mortgage programs, due to their lack of employment history, financial instability, and unestablished credit in Canada. While some who are new to the country may have sufficient finances to begin the homebuying process, others may need support to meet mortgage requirements.

There are solutions available for newcomers hoping to become homeowners. Several financial institutions, including many of the big banks, offer mortgage programs for new immigrants. But it’s important to note that there are certain criteria that will need to be met in order for newcomers to use these services. There are also rent-to-own housing options available to assist potential home buyers in purchasing their new home. Services, like JAAG’s Rent to Home Solution, are designed to help get newcomers who are struggling to meet mortgage requirements into homes sooner.

In most cases, in order to qualify for newcomer mortgages, new immigrants will need to be able to prove they have immigrated within the last 5 years. As well, they will need to be in Canada as either a permanent resident, a landed immigrant (in the process of getting permanent status), or on a valid working visa. Newcomers will, in most cases, also need to show proof of employment, typically with a minimum of 3 months on the job. Some exceptions for this may include prior arrangements for housing through an employer.

Of course, if new Canadian immigrants wish to utilize these types of mortgage programs, they will also need to meet the minimum down payment and qualification requirements set by the lenders. Some minimum down payment requirements can be as low as 5%. While others can be as high as 35%, especially if newcomers to the country don’t have a Canadian credit history or don’t qualify for an insured mortgage. Lenders will also look at other aspects, such as your debt to service ratio (which could include debt outside of Canada), and apply a mortgage stress test to ensure your eligibility.

As an alternative to using a newcomers mortgage program through one of the major financial institutions, potential homeowners can apply for a rent-to-own housing solution. For example, JAAG’s Rent to Home Solution provides newcomers who qualify an opportunity to find and live in their home now while they save and build credit for the future purchase. Typically, a rent-to-own contract, like JAAG’s, would have the client lease the home for 3 years with the goal of purchasing the home at the end for an agreed upon predetermined price.

During the lease period, part of the monthly payment is set aside to establish the down payment needed to qualify for the mortgage. Clients are encouraged to use the lease period to save money and establish a good credit score, to improve their chances of getting the best rates possible. Clients are also offered guidance and education through credit coaching and financial services to help them develop financial stability. At the end of the 3 year lease period, successful clients have the option to purchase the home for the predetermined price.

There are solutions available for newcomers to Canada who wish to become homeowners. For those who can meet the criteria set out by traditional lenders and big banks, mortgage options for new immigrants are a viable option. However, for those who are grappling with lender requirements, there are alternatives available, such as a rent-to-own housing model. Trusted and recognized rent-to-own companies, like JAAG Properties, offer simple financing solutions to experience homeownership while working toward financial readiness.

Unintended Credit Problems: They’re More Common Than You Think

If you’ve ever had problems with your credit score, you know all too well how frustrating it can be. Whether you’ve been denied for a line of credit or you’ve had difficulty getting approved for a mortgage, life can get complicated as a result of credit issues.


There are a variety of reason why someone might run into credit problems. Most are unexpected! Unforeseen circumstances, such as job loss, divorce, or property damage, can quickly strain finances, leading to missed payments and increased debt amounts.

Credit problems can happen to anyone, and they’re more common than most people want to let on. In some cases, inexperience and a lack of credit education can contribute to credit issues early in life. In other instances, credit issues can arise well into adulthood, stemming from a variety of unpredictable circumstances.

It’s important to know that credit issues are solvable. With education, budgeting, and time, it is possible to rebuild your credit, get your finances in order, and even get approved for loans and mortgages.

JAAG’s Rent to Home Solution includes a Credit Education Service that helps you build financial stability through consistent and flexible monthly payments. And we offer a Credit and Education Service tailored to your specific situation.

How’s the next generation ever going to buy a home?

Have you ever considered how the next generation will afford to buy a home?

For many young adults, the dream of future homeownership may seem completely out of reach. They face an unstable housing market, with record high prices and limited affordable inventory. As well, there is the threat of rising interest rates and inflation, which makes ever purchasing a home seem even more unlikely.

Not to mention, by the time they’re wanting to step into homeownership…

  • Most will have struggled to save enough for a down payment
  • Many will have acquired too much debt
  • Some will have had difficulty generating sufficient household income

All of which could prevent them from qualifying for traditional financing and getting approved for a mortgage.

So, what’s the solution?

Options seem few and far between, and the results can be detrimental.

  • The bank of mom and dad
  • Rent and pray
  • Never leave home

For those struggling to get a mortgage, the options appear to be limited and loathsome. No one wants to tap into their parents’ retirement savings to get started. Few people ever get out of the rent cycle after they’re in it. And, who really wants to live in their parent’s basement forever?

These aren’t solutions!

The solution needs to be comprehensive.

It needs to include a plan that gets future home buyers into a house today, helps them build their credit score and save for a down payment, and sets them up to qualify for traditional financing.

The next generation shouldn’t have to give up on their dreams of homeownership. The future of home buying may seem uncertain, but that doesn’t mean it’s impossible.

Despite having few reasonable options available to them, JAAG’s Rent to Home Solution provides today’s young adults with a safe and reliable method of purchasing a home.

Over 200 future homeowners have discovered their true homebuying potential through JAAG’s Rent to Home Solution — A Simple 4 Step Framework that gives newcomers to the housing market a chance to experience homeownership immediately

Check out JAAG’s Rent to Home Solution

By utilizing JAAG’s Rent to Home Solution, future homebuyers can make their goal of homeownership a reality.

They can experience the stability and freedom to live, decorate, and renovate the way they want. They can enjoy the peace of mind and happiness that comes with homeownership. And they can secure financial freedom while investing in their own home.

The next generation doesn’t have to let traditional financing prevent them from becoming a homeowner.

They can put an end to the rejections with JAAG’s Rent to Home Solution. By utilizing the Simple 4 Step Plan, they can get on the path to homeownership today and start enjoying the benefits of owning their own home immediately.

What is Rent-to-Own Housing?

In real estate, the term rent-to-own (RTO) typically refers to an innovative homeownership solution, wherein a potential homebuyer enters into a lease-purchase agreement.  The process usually consists of four main parts:

  1. Finding and moving into a home today.
  2. Renting for a predetermined period of time (typically 36 to 48 months).
  3. Strengthening credit and finances to qualify for a mortgage.
  4. Purchasing the home at the end of the contract for a predetermined amount.

Rent-to-own agreements are designed to help get people get into homeownership sooner by offering an alternative financing solution. Someone who is struggling to qualify for a mortgage can enter into a lease-purchase contract with a trusted rent-to-own company, like JAAG Properties, enabling them to move into their future home today. [*]

Potential homeowners have the option to enter into a rent-to-own lease agreement for a set period of time (typically 36 to 48 months), with the option to purchase the home at the end for a predetermined price — (The final purchase price is agreed upon at the beginning of the contract. And the house will be sold at the agreed upon price, regardless of fluctuations in the market by the end of the deal). [*]

During the lease period of the rent-to-own contract, the “tenant” is required to make monthly payments. A portion of the monthly payment is credited towards the future down payment on the home, while the remainder is collected as monthly rental fees. [*]

Potential homeowners are expected to use the lease period of the rent-to-own contract to improve their chances to qualify for a mortgage at the end of the agreement. This could mean working with credit teams to improve finances and address credit issues. [*]

A successful rent-to-own contract results in the tenant having enough funds for the down payment, getting approved for a mortgage, and purchasing the home at the end of the predetermined time period. [*]


Learn more about JAAG’s Rent to Home Solution at JAAGPROPERTIES.COM.

To get started, call us at 1-866-JAAG-NOW (that’s 1-866-522-4669).

Have a question? Email us at INFO@JAAGPROPERTIES.COM.